Cheque Bounce Lawyer In Ahmedabad
Negotiable instrument Act 1881, Section 138, the ultimate solution of reducing financial crime. As Crime is never accepted in society as well as financial crime is never accepted in business, relations, and daily utility transactions. As Indian laws are majorly followed to British law thus in 1881 the negotiable instrument act came into force which covered the cheques, Bill of Exchange, and many more instruments in said act. A bill of exchange that is drawn upon a specified banker and payable on demand is called a cheque. A cheque bounces or is considered to be dishonored when it is presented for payment, but due to reasons such as – insufficient balance in the account, stopped payment, Account Suspended, overwriting, or expired validity of the cheque among various others, the cheque cannot be cleared. Cheque bounce cases are some of the most common cases before courts in India with close to 40 lakh cheque bounce cases pending as per reports of the Supreme Court. A cheque bounce happ...